Sam Bankman-Fried, founder and former CEO of FTX, is a little late but will attend the upcoming US House committee hearing and testify about the collapse of his own crypto empire.
Bankman-Fried said in a tweet last Friday that he doesn’t have access to a lot of data on why FTX crashed or how it crashed. However, he will still attend the hearing on December 13, as he thinks it will be in the best interest of the committee.
Sam Bankman-Fried explained that he still has no access to most of his data, including personal data. That’s why he added that there is a limit to what he can say and that he cannot be as helpful as he would like. However, the committee added that it was ready to testify on December 13, as it thought it would be helpful.
As it is known, the US House of Representatives Financial Services Committee stated that it would hold a hearing in November to investigate how the crypto exchange FTX crashed. FTX founder Sam Bankman-Fried, Alameda Research, Binance, and more people and companies in the crypto space have also been asked to come, according to the committee’s statement.
However, Sam Bankman Fried said that he could not attend this hearing as he had not yet learned and reviewed the situation. Because of this statement, Maxine Waters, Chairman of the Financial Services Committee, approached Sam Bankman Fried with anger at the last piece of equipment.
Maxine openly stated that it was mandatory for Sam Bankman Fried to attend the hearing, which will be held on the 13th. She even claimed that if Sam Bankman Fried refused to testify, his statement would definitely be taken by court order.
The most important reason why Waters is so strict is that many in the crypto community and investors criticize lawmakers for their lack of seriousness in the FTX investigation. Many people actually think that Sam Bankman Fried embezzled billions of dollars from customers. They even think that what could be considered the biggest scam in history, assuming it’s real, got away with little or no scrutiny.
